Chart of the Day: Posh condo units bought by foreigners rose 3ppt to 12%

Condos bought by foreigners surged 46.7% to 361 units.

This chart from Edmund Tie Research revealed that the proportion of foreigners who bought units priced $2-3m rose from 9% in Q2 to 12% in Q3. Singaporeans buying condo units priced higher than $3m also grew three percentage points to 53% over the same quarter.

Additionally, the sales volume for all three groups of buyers grew for purchases of units priced lower than $1.5m. In particular, the volume by foreigners ranging between $1m to $1.5m more than doubled to 102 units for the quarter.

Sales volume by foreign buyers surged 46.7% to 361 units in Q3 despite the higher Additional Buyer's Stamp Duty rates tagged to foreign purchases.